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Hurco Companies Inc. (NASDAQ: HURC) is a leading industrial technology company based in Indianapolis, Indiana. Known for designing and producing interactive computer controls, software, and computerized machine tools, Hurco serves the global metal cutting and metal forming industry.
The company's core products include vertical machining centers, turning centers, and user-friendly computer control systems. These products cater to a wide array of industries such as aerospace, defense, medical equipment, energy, transportation, and computer equipment. Hurco’s primary clientele consists of independent job shops and short-run manufacturing operations within large corporations.
Hurco operates manufacturing facilities in Taiwan and China and utilizes a comprehensive sales, service, and distribution network across North America, Europe, and Asia. The company maintains subsidiaries in numerous countries, including Canada, China, England, France, Germany, India, Italy, Poland, Singapore, South Africa, and the United States.
Hurco’s commitment to innovation and quality is reflected in its wide range of products, such as the 5-Axis VMC, 3-Axis VMC, Horizontal MC, and Turning Centers. The company’s strategic focus on creating user-friendly systems ensures that both skilled and unskilled operators can efficiently use their machinery.
With a substantial portion of revenue generated from the United States, Hurco continues to expand its global presence and enhance its technological capabilities to provide superior solutions in the metalworking industry.
Hurco Companies, Inc. (HURC) announced a cash dividend of $0.15 per share, payable on October 17, 2022, to shareholders of record as of October 3, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. Future dividends are subject to board approval and may change based on business needs and market conditions. Hurco specializes in CNC machine tools, serving diverse industries including aerospace, medical, and energy, with a global presence in manufacturing and sales.
Hurco Companies, Inc. (HURC) reported third-quarter fiscal 2022 net income of $1,238,000 ($0.18 per diluted share), down from $1,568,000 ($0.23 per diluted share) a year prior. Sales increased 6% to $57,640,000 despite an 8% negative currency impact. For the first nine months, net income rose to $6,802,000 ($1.01 per diluted share) from $4,668,000 ($0.70 per diluted share) year-over-year. Orders decreased 21% to $52,882,000, primarily due to reduced customer demand, especially in Asia due to COVID-19 lockdowns. Gross profit improved to 25% of sales, aided by inflationary pricing and higher-performance machine shipments.
Hurco Companies, Inc. (HURC) has declared a cash dividend of $0.15 per share, to be paid on July 11, 2022, for shareholders on record by June 27, 2022. This decision reflects the company's commitment to returning value to shareholders. Future dividends will depend on Board approval and may be adjusted based on the company's business needs or market conditions. Hurco specializes in CNC machine tools, with customers in various industries, including aerospace and medical.
Hurco Companies, Inc. (HURC) reported a net income of $2,029,000 or $0.30 per diluted share for Q2 of fiscal 2022, down from $2,437,000 or $0.36 per diluted share in Q2 of fiscal 2021. Year-to-date net income reached $5,564,000 ($0.83 per diluted share), up from $3,100,000 ($0.46). Total sales for Q2 increased 8% to $62,825,000, while orders dropped 10% to $58,858,000. Significant challenges include inflation, vendor delays, and COVID-19 lockdowns impacting sales in Asia. Despite these headwinds, the company sees growth in the Americas and Europe.
Hurco Companies, Inc. (Nasdaq: HURC) announced a cash dividend of $0.15 per share on common stock, payable on April 11, 2022, to shareholders recorded as of March 28, 2022. The future declarations of dividends will depend on Board approval and may change based on market conditions. Hurco, a leader in the CNC machine tool industry, operates globally and serves various sectors including aerospace and medical equipment. The company emphasizes innovation in its proprietary software and interactive controls for its machine tools.
Hurco Companies reported a strong first fiscal quarter for 2022, achieving a net income of $3,535,000 ($0.53 per diluted share), up from $663,000 ($0.10) in Q1 2021. Sales rose by 24% to $66,887,000 despite a $1,171,000 unfavorable currency impact. Global orders reached $70,855,000, representing a 24% increase. Notably, European sales surged by 41%, with a 58% increase in orders. The company is committed to returning value to shareholders through dividends and a stock repurchase program while managing challenges like inflation and vendor delays.
Hurco Companies, Inc. (HURC) reported strong financial results for Q4 and fiscal year 2021. The company achieved a net income of $2.1 million ($0.31 per diluted share) in Q4 2021, up from a net loss of $3.6 million in Q4 2020. For the fiscal year, net income reached $6.8 million ($1.01 per diluted share) compared to a loss of $6.2 million in 2020. Sales surged 38% year-over-year to $235.2 million, driven by increased demand across all regions. Gross profit margins improved, with Q4 gross profit at 25% of sales. Operating income rose to $10.2 million in 2021, reflecting a strong recovery from pandemic-related challenges.
Hurco Companies, Inc. (HURC) announced a cash dividend of $0.14 per share, set to be paid on January 17, 2022, to shareholders on record by January 3, 2022. The dividend decision underscores the company's commitment to returning value to shareholders while highlighting future dividends subject to board approval and business conditions. Hurco specializes in manufacturing CNC machine tools, selling through global operations in diverse markets including aerospace and medical equipment.
Hurco Companies, Inc. (HURC) has announced a cash dividend of $0.14 per share, set to be distributed on October 11, 2021, to shareholders recorded by the close of business on September 27, 2021. This decision reflects the company's commitment to returning value to its shareholders. The future of dividend declarations will depend on the Board's approval and may change based on business needs or market conditions. Hurco specializes in the production of CNC machine tools and components, serving varied industries worldwide.
Hurco Companies, Inc. (HURC) reported its Q3 2021 results, revealing a net income of $1.57 million, down from $2.16 million in Q3 2020, with earnings per share at $0.23. Total sales for Q3 increased by 19% to $54.18 million, driven by strong demand across all regions, particularly in Europe where sales rose 45%. Orders reached $66.7 million, an 85% increase year-over-year. For the nine months ended July 31, net income was $4.67 million, with sales up 32% to $166.21 million. Strong growth metrics were noted in all geographic areas despite some challenges with supply chain delays.
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